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05.11.2012 07:40

Stocks: Friday’s review



Asian stocks rose after reports on U.S. employment and manufacturing topped estimates and confidence among American consumers climbed to a four-year high. A gauge of Chinese shares listed in Hong Kong rallied 20 percent from a September low.

Nikkei 225 9,051.22 +104.35 +1.17%

S&P/ASX 200 4,460.05 +2.40 +0.05%

Shanghai Composite 2,117.05 +12.62 +0.60%

BHP Billiton Ltd., the world’s largest mining company, climbed 1.8 percent.

Sands China Ltd., the Macau casino operator controlled by billionaire Sheldon Adelson, gained 4.8 percent as spending by middle-class Chinese gamblers boosted profit 17 percent.

Sharp Corp. slid 2.4 percent after the TV maker forecast a record loss and said there was “material doubt” about its survival.


European stocks advanced to a two- week high as a report showed that hiring in the U.S. last month increased more than forecast.

As for the regional statistics have been issued on the production PMI Markit Spain, Italy, France, Germany and the eurozone. Spanish index fell more than expected, from 44.6 to 43.5 (vs. 44.0), Italian weakened from 45.7 to 45.5, as expected. French indicator rose from 42.7 to 46.0 vs. 45.7. The final euro-zone rose from 45.3 to 45.4, showing a small but unexpected change.

National benchmark indexes climbed in 16 of the 18 western European (SXXP) markets. The U.K.’s FTSE 100 added 0.1 percent. France’s CAC 40 rose 0.5 percent and Germany’s DAX added 0.4 percent.

Beiersdorf jumped 7.2 percent to 60.70 euros, the highest price since at least January 1996, after the maker of Nivea skin-care products raised its 2012 forecast for sales growth to as much as 4 percent, from a previous prediction of 3 percent.

A gauge of carmakers rose 1.2 percent for the second-best performance among the 19 industry groups in the Stoxx 600. BMW advanced 2.7 percent to 65 euros after saying U.S. sales climbed 21 percent in October. Daimler added 1.6 percent to 37.09 euros.

Alcatel-Lucent slumped 5.5 percent to 77.9 euro cents after posting a third-quarter net loss of 146 million euros, compared with a profit of 194 million euros a year earlier. The phone- equipment maker, whose shares have dropped 36 percent so far this year, is France’s most-shorted stock, based on data compiled by financial-information provider Markit, signaling a growing number of investors are predicting further declines.

Deutsche Telekom AG dropped 2.6 percent to 8.66 euros. The company may cut its dividend from next year by as much as a third, Handelsblatt reported, citing unidentified supervisory board members.

U.S. stocks fell, paring a weekly gain for the Standard & Poor’s 500 Index, after better-than- forecast payrolls failed to keep commodity and technology shares from slumping as Americans prepared to pick a president.

Equities advanced early in the day as a report showed a net 171,000 workers were added to payrolls in October. The median forecast of 91 economists called for an advance of 125,000. The jobless rate rose to 7.9 percent from 7.8 percent as more people entered the labor force.

The report comes before Americans go to the polls on Nov. 6 to decide whether to give President Barack Obama another four years or change course with Republican challenger Mitt Romney.

Commodity shares fell the most among 10 S&P 500 industry groups, sinking at least 1.7 percent.

Chevron (CVX) slipped 2.8 percent to $108.37 for the biggest retreat in the Dow. The second-largest U.S. energy company by market value said third-quarter profit declined as output plunged to a four-year low, oil prices slumped and refining income dropped 65 percent.

Priceline jumped 8.3 percent to $634.74. The most valuable online-travel agency reported profit that topped analysts’ estimates as consumers flocked to the site, assuaging concerns that Europe’s financial crisis would crimp demand.

At the close:

Dow 13,093.16 -139.46 -1.05%

Nasdaq 2,982.13 -37.93 -1.26%

S&P 500 1,414.20 -13.39 -0.94%

05.11.2012 07:59

Forex: Friday’s review

Market Focus

  • The eurozone started the third quarter on a solid footing, according to PMI survey data
  • Earnings Season in U.S.: Major Reports of the Week
  • German private sector output growth slowed for the second month running in July
  • ECB's Mersch says as conditions normalise, it is unlikely that uncoventional policies will remain necessary
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